The Subsidy for Salvadoran Exports
The possible elimination of the 6% subsidy on exports has led the Corporation of Salvadoran Exporters to discuss other options.
Thursday, May 28, 2009
The benefit received by the export sector from the government is 6% of the value of non-traditional exports outside Central America and it will expire in December. For the Salvadoran government, this subsidy represents a disbursement of $23 million.
If the Salvadoran Constitution is not amended so that it is in accord with ILO requirements, the country would lose GSP benefits.
The entry being prepared by the government into the Pacific Alliance will bring more market opportunities but also the requirement for more competition.
FOB exports of general goods registered growth of 10.5%, while CIF imports of general merchandise increased by 5.4%.
Costa Rica is looking to hold trade negotiations in the future with Peru and Colombia, Trade Minister Marco Vinicio Ruiz said. But first the United States will have to ratify its free trade accord with Colombia, he added.
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